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I’m reading that the price to book value (P/B) ratio is 0.71 at 490p. So is it fair to deduce book value should currently be 700p?
Thanks. DT
Surely time for Sylebra and Gladstone to bog off!
So hopefully no negative news coverage for PFC for the next 4 months then, if at all.
Plenty of time for the SP to recover with rising OP, global vaccination kicking in and oil demand increasing as major economies begin to recover.
I think I may hold on to my 25k shared for a bit...cheers Shorties. X
Would be great to hit 130 for the first time since the Jan RNS.
Thanks SEA7. Obviously a long and complex case. If it’s a retrial, maybe no new evidence will be forthcoming and the jury can make a decision this time.
Does anyone have info on the outcome of Paul Bonds retrial, scheduled for Jan 18th at Southwark?
Just putting pieces of the puzzle together in my Sunday morning reading...
Lufkin sentencing adjournment / KBR landmark ruling / Lisa Olofsky criticism during Unaoil investigation by SFO. Fascinating reading.
FWIW I’m long with 25k shares.
So do we reckon this German web site was Fake News then?
http://www.aktiencheck.de/exklusiv/Artikel-Petrofac_Shortseller_Rye_Bay_Capital_ist_komplett_raus_Aktiennews-12532972
It is fascinating, all these shenanigans. I guess there'll be no short squeeze either.
With the results delay, short termers will move on to chase rainbows elsewhere and we can resume our slow climb back to the 170 area. No doubt the powers that be will try other underhand tactics on the way up to scare and intimidate PI's into selling and losing their hard earned cash.
PFC's corrupt former employee is sentenced next week, so lets see which way that is spun.
That’s a big call D4ve, I saw a £90k trade and a £110k trade go through which I guess were yours. Good luck.
My opinion is that today’s volume is tiny and this is down a couple of % on general low sentiment. I’m holding as this can ping north at any time.
* would not
Just FYI, Engadine have been shorting PFC since 2019, when the price was north of a fiver, and they’ve never gone above 1% short. I would read too much into yesterday’s relatively modest adjustment.
I really don’t see 70p coming (a 40% drop from here) unless something dramatic and unforeseen occurs. PFC has traded happily up to 670p since the SFO investigation was RNS’d in May 2017.
DT
Good to see a better day here today.
A couple of juicy 435473 share trades reported at 16:22:52 and 16:23:06.
Both trades at 431.7p, not far off the lowest price for the last fortnight, valued at £1.88m each.
Further shorts closing? We shall see.
I’ve just topped up. If they do a deal this goes straight back through a fiver. If they don’t, we lose 10-15% for a couple of weeks before our inevitable rise starts again.
The question is do you take this buying opportunity, or do you gamble on no deal to get in a bit cheaper?
Gladstone down again by 0.06%, to 1.09%.
Further reduction from Gladstone: down 0.21% to 1.15%
Surely Sylebra Capital will close their 0.7% short soon. They increased to 0.61% on 12th March, then 0.7% on 18th March. The closing price on those dates was 464p and 314p respectively, so they are underwater with a good chunk of their borrowed stock.
Dolphinly a blue day
Bring it on!
Here's the top 5 trades by volume of the past two weeks:
date price volume trade Value type
20-Nov 326.625 297704 £972375.69 Off-Book
23-Nov 328.757 191562 £629773.48 Off-Book
27-Nov 368.037 190046 £699439.59 Off-Book
02-Dec 356.549 182891 £652096.03 Off-Book
30-Nov 357.972 177963 £637057.71 Off-Book
I'm enjoying the positive and grown up conversation on this forum recently, thanks guys.
DT
https://www.ii.co.uk/analysis-commentary/chart-week-are-micro-focus-shares-back-dead-ii514331